The S&P 500 is downtrending on the intraday frame and pulling back from a resistance target near 2,010, but we have a key pivot point that will determine whether we’ll be bulls or bears for the next few sessions.

Let’s take a look at the charts, breadth, and highlight our trending stocks of the day.

In simplest terms, the S&P 500 is “Bullish for a Breakout” above the current trendline resistance into 1,995 and is otherwise “Bearish for Trend Continuity” under the 1,995 pivot.

We’ll focus our attention on this level during today’s session and beyond.

We do note a lengthy positive Momentum and TICK Divergence that undercut today’s low near 1,985 and the subsequent bullish impulse (power-swing higher) that may develop into a larger intraday reversal with a break above the prior high above 1,995.